DEBT SITUATION

Wairarapa Daily Times, 16 January 1932, Page 5

DEBT SITUATION

“ REPARATIONS FINISHED”

FEELING'IN ENGLAND.

Press Association Electric Telegraph—Copyright LONDON, Friday.

The “Financial News” says the feeling is steadily growing that whatever precise course is taken at Lausanne, reparations are finished and that not all the intransigeaneo and obstructiveness of Franco will avail to keep them alive. The feeling has been strengthened, not only by Signor Mussolini’s articles, but by reports that the British Cabinet is in entire agreement with the City that reparations must be ended rather than mended. This may be facilitated by a short instead of a long extension of the moratorium, to enable governments to tackle a final proposal.

BRITAIN’S POSITION.

“HOLDING THE BABY.”

LONDON, Thursday

The “Daily Mail,” commenting on Sir Walter Layton’s speech, says: — “Britain would be hardest hit by the wiping out of war debt burdens, and a collapse would not be long delayed. We cannot hold all troublesome babies for the universe, or serve any longer as Europe’s fairy godmother.”

“SCRAPS OF PAPER.”

M. lIERRIOTT OUTSPOKEN,

LONDON, Friday

M. Ilcrriott. in a special copyright article to the North American News Agency, says Dr. Bruening’s declaration that Germany cannot pay reparations has rendered almost impossible the establishment of a loyal and reasonable Franco-German reconciliation.

“We feel it is not possible any longer to believe in legitimacy of contract. If its signatures can thus be contested what is to become of international morality? In the face of temporary ills are we returning to the regime of “scraps of paper?” Germany considers she is paying tribute in paying for the consequences of the ruins she accumulated, the fires she lit and the sufferings she has inflicted. We can understand a policy of destruction for military reasons but when beaten Germany was forced to fall back and lays waste for pleasure, a city such as Cambrai, is she not bound to make reparation? If not, it would be necessary to abolish the idea of duty and condemn humanity to live like beasts, under the protection of force alone. Frenchmen will never submit to such a view. It would bo an injustice to interpret Britain’s silence as approval. Dr. Bruening wanted to frighten us but Frenchmen do not yield to fear.”

If Germany’s reparation payments are cancelled New Zealand will lose roughly £350,000 a year.